National Joint Stock Company Naftogaz of Ukraine plans to complete the process of selecting suppliers of natural gas to Ukraine in mid-August using a US$300 million loan provided by the European Bank for Reconstruction and Development (EBRD), Naftogaz Commercial Director Yuriy Vitrenko told journalists.
”Till date, we have successfully held three tenders and one more tender is to be held. $183 million from the loan funds has been utilized, and there is $117 million left. We plan to finalize the procedure in the coming days,” Vitrenko noted.
Vitrenko also stated that Naftogaz is currently purchasing gas in Slovakia at $173-174 per 1,000 cubic meters, with the cost of transportation to Ukraine ranging from $6.5 to $12.5 per 1,000 cubic meters, depending on the distance of the entry points to the gas transportation system of Ukraine.
As UNIAN reported earlier, the EBRD in September 2015 allocated $300 million to Naftogaz for the purchase of gas from European companies. The decision was taken by the Board of Directors on September 30 and secured with the loan and guarantee agreements signed during a Ukrainian-German summit in Berlin in mid-October.
On May 20, 2016, Naftogaz CEO Andriy Kobolev said the company had paid the last tranche with interest under EBRD`s revolving credit facility of $300 million.
Earlier, Naftogaz CEO said the company would start buying natural gas using its own funds and the EBRD loan.
In early July, Kobolev also stated that Naftogaz of Ukraine was in talks with the EBRD on increasing the volume of lending by the latter for the purchase of natural gas. The company also views the World Bank as a potential creditor.